Australia Law

Have Australian law questions? Ask a lawyer now.

Ask a Lawyer,
Get an Answer ASAP!

How do I close a family trust, victoria, no, like what?

Customer Question
How do I close...

How do I close a family trust

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Victoria

Lawyer's Assistant: Have you talked to a lawyer yet?

No

Lawyer's Assistant: Anything else you think the lawyer should know?

Like what?

Submitted: 1 year ago.Category: Australia Law
Show More
Show Less
Ask Your Own Australia Law Question
Customer reply replied 1 year ago
hello?
Answered in 1 hour by:
8/31/2016
Solicitor: Patrick H., Lawyer replied 1 year ago
Patrick H.
Patrick H., Lawyer
Category: Australia Law
Satisfied Customers: 5,422
Experience: Dip Law LPAB - Sydney based lawyer
Verified

It depends on the terms of the trust.

A family trust will almost always have a trust deed which sets out the rules of the trust and how and when it can be wound up. The rules can vary widely so you need to get a copy of the trust and examine it. The trust deed would normally be held by the trustee or an appointer (a person who appoints the trustee) or their solicitors.

Usually only the trustee can wind up a trust voluntarily, though in some cases a beneficiary may be able to get an order from a court to make the trustee's wind up the trust.

In any event, the property under the trust will generally have to be distributed in accordance with the terms of the trust.

I hope this assists your understanding.

Good luck and please rate my answer.

Patrick

Ask Your Own Australia Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a solicitorLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Patrick H. Your Own Question
Patrick H.
Patrick H.
Patrick H., Lawyer
Category: Australia Law
Satisfied Customers: 5,422
5,422 Satisfied Customers
Experience: Dip Law LPAB - Sydney based lawyer

Patrick H. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Deborah Awyzio

Deborah Awyzio

Solicitor

863 satisfied customers

Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience

Sean

Sean

Experienced lawyer

855 satisfied customers

Law degree with 1st class honours from Australian National University.

James G.

James G.

Lawyer

17 satisfied customers

Australian Legal Practitioner

Darren Kruse

Darren Kruse

Solicitor

16 satisfied customers

Practising in in Personal Injury, Workcover, Civil Disputes, Family, Wills and Estates and Criminal law.

Leon

Leon

Solicitor

27,790 satisfied customers

BEc Dip Ed, Dip Law (SAB) MTax (UNSW)

Daniel

Daniel

Solicitor

5,976 satisfied customers

Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court

John Melis

John Melis

Lawyer

3,352 satisfied customers

Principal Lawyer at Legal AU Pty Ltd

< Previous | Next >

Related Australia Law Questions
I separated from my wife of 18 years 12 months ago. We lived
I separated from my wife of 18 years 12 months ago. We lived in a house that was owned by her family's trust and they regularly promised it to her and I. I kept diary records of their conversations wi… read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
I wanted a clarification with regards to company and family
I wanted a clarification with regards ***** ***** and family trust setup and running - am based in Melbourne … read more
John Melis
John Melis
Lawyer
Diploma In Law
3,352 satisfied customers
I need to know if it is possible to put a caveat on a house
Hi there, I need to know if it is possible to put a caveat on a house that lives in a trust? My husband and I recently separated due to family violence and our matrimonial home sits in his family trus… read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
I am considering divorce from my wife, we have been together
I am considering divorce from my wife, we have been together for 30 years … read more
John Melis
John Melis
Lawyer
Diploma In Law
3,352 satisfied customers
Can A VCAT administrator (State Trustees) close bank
Can A VCAT administrator (State Trustees) close bank accounts or sell assets that are in joint names without regard to the joint account holder (other than the represented person)? … read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
I have a 14 year old daughter who lives with her mother and
i have a 14 year old daughter who lives with her mother and as i and her mother have a parenting agreement which states she live with me the child has expressed concerns about living with her mother and step father and has left her mother and is cureently staying in care of a family friend … read more
Patrick H.
Patrick H.
Lawyer
5,422 satisfied customers
I am just looking information daughters partner, victoria,
Hi I am just looking for some information for my daughters partner … read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
75 old. Divorced. Remarried. One child from first marriage
75 old. Divorced. Remarried. One child from first marriage now in her 40's. Do I have any legal obligation to child regarding my will? thank you. State Victoria… read more
Patrick H.
Patrick H.
Lawyer
5,422 satisfied customers
I am already in a second marriage (no children) with
I am already in a second marriage (no children) with children from first marriage. I want to protect my assets so my children benefit, can I set up a trust fund so if second marriage fails the second … read more
Patrick H.
Patrick H.
Lawyer
5,422 satisfied customers
Can a power of attorney be removed if they have stolen money
Can a power of attorney be removed if they have stolen money from the person they are acting for.. thank you… read more
Patrick H.
Patrick H.
Lawyer
5,422 satisfied customers
Good Morning I live in rural Victoria on a property own by
Good Morning I live in rural Victoria on a property own by a Family Trust. This trust is a Discretionary Trust of which I am the sole beneficiary. The property is the only asset the trust holds. I wis… read more
Leon
Leon
Solicitor
Master's Degree
27,790 satisfied customers
wife has taken kids to queensland no consent orders in place
wife has taken kids to queensland no consent orders in place just verbal agreement to bring kids back at the end of the year now she says she wont come back how do i get my kids back to victoria… read more
Patrick H.
Patrick H.
Lawyer
5,422 satisfied customers
This question relates to Land Rich Provisions of Duties Act
This question relates to "Land Rich Provisions" of Duties Act Victoria 1. A holds all shares in XYZ Pty Ltd (Private Family Company) which is the Trustee of a Discretionary Trust. 2. The Trust owns pr… read more
Leon
Leon
Solicitor
Master's Degree
27,790 satisfied customers
I have a property which is owned for a Discretionary Family
I have a property which is owned for a Discretionary Family Trust. The Trustee of that Family Trust is a Non Trading P/L Company. In Victoria, I am told the Trustee company must purchase the property … read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
Family Law. are you able to explain to me what avenue I have
Family Law. are you able to explain to me what avenue I have to air my concerns regarding the (what I regard as) unprofessional legal representation I have had in a family law matter please. There hav… read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
My husband and I have an amicable split of 3 years after 40
My husband and I have an amicable split of 3 years after 40 years of marrage, he with an aquired brain disorder. He is able to lool after himself with full congnative behaviour. We are in the process … read more
D. Coleman
D. Coleman
Solicitor
Bachelor\u0027s Degree
795 satisfied customers
Hi, I have a $45.000 business loan under mine and my husbands
Hi, I have a $45.000 business loan under mine and my husbands name since we were married, now I am devorced and stuck with the loan because my ex wont pay and the loan was for his business, I don't kn… read more
Maurice
Maurice
Lawyer
Master's Degree
1,980 satisfied customers
I need someone to answer that is an Expert with the Victorian
I need someone to answer that is an Expert with the Victorian Land Tax regulations regarding nomination beneficiaries for trusts . I have a Land Tax penalty problem. I was told that in order to avoid … read more
Leon
Leon
Solicitor
Master's Degree
27,790 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x